The European Commission is “greening” natural gas and energy

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The European Commission will adopt its controversial project to award the “green” label for investments in certain nuclear and gas plants, according to a spokesman for the EU executive, writes AFP.

At the end of last year, the European Commission proposed to include nuclear and gas-fired power plants in the list of sustainable investments, which will be eligible for funding for green projects. The proposal of the Community Executive has been the subject of consultations with the Member States until 21 January.

“Tomorrow (Wednesday), the College of Commissioners will review the Commission’s regulation on taxonomy and this case will be the subject of a press conference,” said European Commission spokesman Eric Mamer, referring to the weekly meeting of the College of Commissioners at which the Commission adopts. legislative proposals.

The text will set out the criteria on the basis of which investments in gas or nuclear power plants can be considered as “sustainable” investments. The way in which the future European green investment classification system will be designed is being closely watched by investors around the world and is likely to attract multi-billion euro private funding, which could help the green transition, writes AGERPRES .

However, this long-awaited verdict creates divisions among the 27 member states, but also in some investors, given that there are countries that do not want to include gas and nuclear energy on the list of sustainable investments. On Tuesday, Austria, Denmark, the Netherlands and Sweden released a joint letter expressing their opposition to the inclusion of gas-fired power plants on the list of green investments.

“The lack of scientific evidence for the inclusion of gas in the taxonomy should lead the European Commission to revise its proposal,” said the four signatory states.

According to the Commission’s project, nuclear power plants will be considered green if there is a strategy, funding and location for neutralizing radioactive waste. New nuclear power plants should also receive building permits before 2045. Gas-based energy production will be considered green if it is in transition. It is characterized by being unsustainable, but has below average carbon emissions and can be used.

Following the publication of the Commission’s text, there will be a six-month period in which the European Parliament will have the opportunity to reject the draft Community executive by a simple majority vote. The European Council, for its part, could also oppose the Commission’s project by organizing a voting procedure, but that would require a majority of 20 Member States, which seems unlikely.